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The Vietnamese prime minister has just approved a scheme that could lead to official recognition of bitcoin virtual currency as a form of payment until 2018.

Vietnam News Agency reported that Prime Minister Nguyen Xuan Phuc assigned the Ministry of Justice to take a leading role in reviewing the current status of virtual property and virtual currency in Vietnam and studying and examining relevant international experiences.

The ministry is also required to study, make proposals for the development of legal documents on virtual property, virtual currency; Studying, proposing the development of laws (laws) to amend and supplement laws relating to virtual property and virtual currency.

Participating in efforts to complete this legal framework is the participation of the SBV, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Information and Communications and the Ministry of Public Security.

A comprehensive review must be completed by August 2018, and all legal documents on virtual currency must be ready before the end of next year, according to the Prime Minister's decision.

If approved, this will signal that Vietnam's leadership is less cautious than it would have been in 2014, when central bank officials warned consumers of the risk. The muscle of the virtual currency.
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